Support for fast growing employee-ownership firms is likely to lead to benefits throughout the Scottish business communityProf Ronald McQuaid, Stirling University

The universities said their study marked the first time Scotland's employee-owned firms had been examined in a detailed way by academic researchers.

Lead author, Dr Ross Brown, of the University of St Andrews, said: "The John Lewis economy is alive and well in Scotland.

"However, it appears that it is small dynamic SMEs who are most eagerly embracing the employee-ownership model in Scotland."

He added: "Scots employees appear to be very successful capitalists and employee involvement seems a very good recipe for the success of these businesses."

Prof Robert Raeside, who also contributed to the study, said: "The performance of Scottish employee-owned businesses is generally superior to their counterparts on a number of different variables.

"In terms of their employment and sales growth, employee-owned firms do better than non-employee owned firms."

Prof Ronald McQuaid, from the University of Stirling, said: "These findings largely mirror other research undertaken elsewhere in the UK and abroad and further strengthens the evidence base concerning the growth performance of employee-owned firms."

Prof McQuaid claimed the findings suggest that "support for fast growing employee-ownership firms is likely to lead to benefits throughout the Scottish business community."

A spokesman for Clansman Dynamics said the company had seen turnover, productivity, profits and employee numbers increase significantly since becoming employee-owned in late 2009.

He added: "Employee ownership has help produce a workforce who are both knowledgeable and engaged in our markets and product development strategy."